Dome International issues Nomu IPO prospectus: School operator Dome International forInvestment is floating some 850k new shares on Tadawul’s parallel market Nomu, representing 14.53% of its post-IPO capital, according to the prospectus (pdf). The company lined up Capital Market Authority approval for the move back in March.

What’s next? The subscription period will run between 19-26 May, whereby qualified investors can book up to 292.5k shares each, with the minimum set at 10. The final allocation of shares will take place on Sunday, 1 June.

Use of proceeds: Dome International will use the proceeds from the primary share sale to finance its future projects and expansion plans. Around SAR 3.2 mn will be set aside to cover offering-related expenses.

Post IPO-structure + lockup: The firm’s five substantial shareholders will see their ownership diluted to a combined 73.9% stake down from 86.46% post-IPO. Their shares will be locked up for 12 months from the first day of trading, and they will not receive any proceeds from the sale.

About Dome International: Founded in 2015, the school operator owns and runs two K-12 schools in Riyadh offering both international and national curricula. The firm also specializes in non-residential construction including hospitals and hotels.

A snapshot of its latest financials: Dome International’s net income inched up roughly 2.9% y-o-y to SAR 3.6 mn in 1Q which ended on 31 October 2024, according to its latest earnings in the prospectus. Its revenue grew 7.6% y-o-y to SAR 21.3 mn over the same period.

ADVISORS- Watheeq Capital is quarterbacking the transaction as financial advisor, with Derayah serving as lead manager and RSM as the legal accountant. Receiving agents include SNB Capital, Riyad Capital, BSF Capital, and Al Jazira Capital among others.

IN CONTEXT- Plenty moving on Nomu this week: IT services provider Axelerated Solutions and restaurant operator Al Kuzama Trading both issued prospectuses to each float a 10.7% stake in primary offerings on the parallel market earlier this week. Subscriptions kick off early this month.

Other Nomu listings to watch out for in 2025:

  • Auto equipment distributor Service Equipment Company is guiding on a price range of SAR 80-84 per share for its upcoming Nomu IPO of a 30% stake;
  • Al Khalidi Logistics lined up the Capital Market Authority’s (CMA) approval in December to take a 7% stake to the parallel market;
  • Qudra for Communications and IT got the go-ahead from the CMA to list 5 mn shares — good for an 18.2% stake — on Nomu last month ;
  • Hawiya Auctions was also approved to offer a 12% stake — 2.4 mn shares — on Nomu;
  • The National Signage Industrial Company, a subsidiary of Tadawul-listed Arabian Contracting Services, was cleared last month to IPO a 20% stake — amounting to 1.5 mn shares — on Nomu;
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